Morton Capital Management LLC CA Increases Stock Position in International Business Machines Co. (NYSE:IBM)

Morton Capital Management LLC CA raised its position in International Business Machines Co. (NYSE:IBM) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,937 shares of the technology company’s stock after buying an additional 70 shares during the period. Morton Capital Management LLC CA’s holdings in International Business Machines were worth $426,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA increased its holdings in International Business Machines by 13.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 77,189 shares of the technology company’s stock worth $13,350,000 after acquiring an additional 9,155 shares in the last quarter. Wealth Alliance increased its stake in shares of International Business Machines by 4.3% during the second quarter. Wealth Alliance now owns 5,945 shares of the technology company’s stock worth $1,028,000 after purchasing an additional 245 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of International Business Machines by 3.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 199,859 shares of the technology company’s stock worth $33,213,000 after purchasing an additional 6,885 shares during the last quarter. Seven Eight Capital LP purchased a new position in International Business Machines in the 2nd quarter valued at about $1,305,000. Finally, Marathon Trading Investment Management LLC purchased a new stake in International Business Machines during the 2nd quarter worth approximately $398,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IBM. Bernstein Bank upped their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. UBS Group boosted their price target on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research note on Wednesday, October 2nd. Bank of America raised their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley increased their price objective on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $215.81.

International Business Machines Price Performance

Shares of IBM opened at $222.54 on Friday. The company has a market cap of $205.77 billion, a P/E ratio of 32.39, a PEG ratio of 4.71 and a beta of 0.74. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $239.35. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm’s 50 day moving average price is $222.47 and its 200 day moving average price is $210.23.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same period last year, the firm earned $2.20 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, research analysts forecast that International Business Machines Co. will post 10.16 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.